How to Build a Successful Farming Operation: Expert Financial Strategies and Infinite Banking

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Welcome to Barn Talk! What happens at the barn, stays in the barn, but not today! We’re letting it all out. In this episode we have Mary Jo Irmen on the show, she is the host, author and Farm Finance Strategist of Farming without the bank. Discover the importance of expert mediation, the pitfalls of non-family member attorneys. Uncover the intriguing world of infinite banking and its potential for financial success in farming.
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2 авг 2024

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Комментарии : 221

@coryferguson 9 месяцев назад

I cant stop talking about my ranch 😅😅😅 ill be sitting in my chair. 😅 cows cows cows. Talking to my neighbors. Cows cows cows. 😅 Cook out. Im biting my tongue. Then someone will ask me about my cows 😅 cows cows cows.

@adamgregoire6862 11 месяцев назад

That was a great conversation. Hung on every word! Took me a few tries to finish... because life is busy... but I'm glad I did. Paid the fee. Sending this to my son.

@onlyconservativeinVT Год назад

I’m not a farm but I’ve been around agriculture all my life. You guys do a great job one of the best podcasts I listen to.

@eliriekeberg7127 8 месяцев назад

You would think someone that spends so much time thinking about finance and cash flow would be able to do basic math. But I continue to be amazed by the stupidity of our experts every single day.

@redraiderreloading7612 Год назад

This really opened up my eyes alot . I'm 53 with a 100k life policy that I have paid on for 8 years. I don't even think the cash value us worth 10k yet. I'll be contacting Mary jo. Thanks for such a enlightening podcast.

@AFFarms444 11 месяцев назад

Greetings. Precisely the issue with whole life policy. I hate to say but whole life insurance and it’s cash value isn’t designed to grow as much as it’s being sold on here…you know who makes all the money on that whole life policy? The agent! The premium is very expensive, not to mention the riders. I know this because I held a license and was in the business until I realized I wasn’t really helping anyone except myself and I quit. No one teaching/selling you something is in it to see you succeed. They are selling and impacting their bottom line. When you sit in a conference room and look at novice mom and dad with small children in tow…and you show them charts and give them the inflation talk and then use psychology to persuade and influence their decision, I just couldn’t understand how people slept at night. Additionally, the cash value grows slowly and the benefit is payed only if the insurance agency is financially solvent. Most are but things happen…2008 crash to cite an example. What’s she’s saying it’s true but you don’t need advice to do so. The most intelligent thing to do is insure yourself, set a beneficiary. Insure other people and set yourself or others as beneficiary. A business can be a beneficiary. If you or your loved ones do this now or when their children are really young, they’ll be set for life. Someone has to start so you may not be deriving the benefits but your loved ones will. This isn’t a secret. Pardon me, I just felt compelled to provide an answer. Godspeed. Term policy- others win if you die. Whole life- cash value that doesn’t really outpace inflation.

@redraiderreloading7612 9 месяцев назад

I have a universal policy, how much does that differ from whole

@ChristopherKilrain 7 месяцев назад

@@redraiderreloading7612quite a bit though the concept can still work it's just more risky.

@tylers7390 Год назад

We've been slowly building up our small alfalfa bale operation with cash, supplementing with other income to make it work. Now we're planning to expand into my dad's land, which is owned free and clear. He rents it out now, and the term is up this season, so we're going to take some of it on next year. It's painful to ease into the future we dream about, but planning in baby-step increments breeds success and makes tough years more manageable. Long-term perspective keeps us going; flexibility keeps us sane; Debt-freedom keeps us from making large-scale mistakes. It's like a built-in pressure release valve for our operation.

@ALWAYSELITE98 10 месяцев назад

This woman is magical im not even a farmer, going to apply this

@NewYorkFarmer 10 месяцев назад

Currently tilling up a field for planting wheat and I just finished this episode, absolutely loved it! I'm bringing this to my dad and we are watching this together. Thank you for making this, you guys are my new favorite podcast.

@uncaljeff 10 месяцев назад

This is the best channel I love these guys

@davidyhan 11 месяцев назад

this is the best podcast.

@COCarDude 10 месяцев назад

Im not a farmer, but I am an entrepreneur and I love this podcast!

@sethslifer9857 6 месяцев назад

$30M of tomorrow's money to retire as a millenial. This is the statement that checked me out from this video.

@Jayce-fu4io Месяц назад

😂 true

@Jayce-fu4io Месяц назад

Blind eye climb , witch, sees , turn right tesla the diesel, just fucking puuuuuuuke

@jayherds 3 дня назад

She was wayyy over the top on those numbers.

@jantomas2005 11 месяцев назад

Thank You.

@zachadkins6161 Год назад

I was going to reach out to you guys about this. I’m glad this episode happen. I’ve been practicing this concept for years now. Best decision I’ve ever did.

@kennethboucherie2612 6 месяцев назад

The dinner talk is the absolute opposite at my house it’s only small talk and I’m like mildly tuned out running number in my head and if I try and talk about it you can tell no one else is turned like me.

@seththomas9105 6 месяцев назад

I'm not 100% on board with everything she says, but I 100% agree with her views and the views of the hosts about how ego and fear of paying anything to the IRS seems to have driven most farmers. My uncles wife was a CPA and tax proffesional for many years and she would shake her head and argue with most of her farm clients about "Gotta buy somethin' so's I ain't gotta pay taxes" or the infamous " I made too much last year". It's really a ego thing but Midwestern protocol won't let people admit they are vain, so they go uptown in a new truck that "they had" to buy. To make the numbers easy: She would have someone who had a good year and had to pay 10K in taxes. "Nope, I'll go buy a new pickemup truck" Her: "Why? Your current truck is 3 years old, and has 8 thousand miles on it. It's like brand new." Farmer: "I ain't paying taxes!" So Mr. farmer goes out and spends 25 thousand to not pay the IRS 10K, takes a bath on depreciation of new vehicles, and pays a bank 10% on a loan and then bitches about not getting any SS or other taxes being high. Or his road being in bad shape, or the local school having financial trouble, or the fire dept. needing a new truck, or the local ambulance is 30 years old. Immagine what he could have done with that 15K? Invest, save, build a nest egg... No, that ego and ignorance gets em' every time. Plus he gets to park a brand new truck on main street in front of the bar and bitch about how he "had" to buy it, cause, well; you know how it is (I made money.)

@hokie9910 6 месяцев назад

Probably the best comment on this chat. I wish more folks understood exactly what you said. To spend a dollar to save 30 cents makes no sense and never will. John Deere financial laughs all the way to the bank with this mentality of having to buy new equipment all the time.

@seththomas9105 6 месяцев назад

@@hokie9910 Bingo! And leasing equipment is just another suckers bet that got real popular since the 90's. Someday the music will stop again, and lots of people ain't a gonna have a chair.

@hokie9910 6 месяцев назад

@@seththomas9105 Yeah, it’s not going to be very pleasant.

@jamesmoon1841 11 месяцев назад

Listened to half of podcast and ordered Nash’s book that came today. Halfway through the Nash book. I am very interested in the personal banking aspect.

@amiryouseffgh271 10 месяцев назад

Pointing out the risk of running notes on land and cattle, Yet failing to comprehend the level of horribleness of whole life and infinite banking as a financial product is kinda shocking.

@1010chris 10 месяцев назад

Can you give more info? What makes whole life and infinite banking so bad? It looks very enticing.

@breakheartorchard4761 10 месяцев назад

It is over priced. Term Insurance is cheaper. Take the savings and invest them.

@amiryouseffgh271 10 месяцев назад

@@1010chris Insurance is insurance and investments are investments. Wisdom works on basic yet profound principles. One of those principles is simplicity. (Kiss: keep it short and simple) Why mix insurance with investment as a product? You pay insurance to insure. It’s defensive. You can self insure if you have the means to. In principle any unnecessary complication is at best inefficient and inefficient or at worst cover for fraud. Which means costly. Timeshare is a good example of borderline fraudulent no ethics scum of earth which is easily avoided given acting under kiss principle. They always try to paint it like it’s an investment opportunity. This might be very controversial even Dave Ramsey doesn’t agree, but even your primary residence is a liability not an investment. Wisdom observes, differentiates and simplifies. Insurance is a liability that covers other less likely but devastating liabilities in case they happen. Investments are in asset categories with risks, time frame and other characteristics. Whole life sucks when you study it as a financial product. Whole life also sucks when you study it at macro level statistically, ie number of self made millionaires who used it.

@jaysederraugh5954 10 месяцев назад

@@breakheartorchard4761Did you listen to the whole podcast? They discussed all that...

@burgergaming19 10 месяцев назад

Bruh 😂 you must have skipped the part of the video where is she talked about why term is worse

@charlesmcdade9722 Год назад

Good show

@dogguy8603 Год назад

It all depends on what crops you grow, yah you can make money from corn, but the real money is in crops that are sold by the gram and not by the bushel lol 😉

@mamir0saucedo237 Год назад

I would agree

@ram_diesel_power6039 Год назад

Easy there hunter. This ain’t the White House.

@Valchrist1313 11 месяцев назад

Not in Canada. The market is so flooded, it's totally tanked. Not just street-value, but also actual companies listed on major stock exchanges. Then the dispensaries are so stocked, you're metaphorically trying to sell off-brand shredded wheat when there's a grocery store selection of name-brand cereal just down the street. You don't even have to pretend the guy behind the counter is your friend.

@dogguy8603 11 месяцев назад

@@Valchrist1313 more than one crop is sold by the gram

@Valchrist1313 11 месяцев назад

@@dogguy8603 Oh, the saffron harvest hasn't been doing so well.

@spencershoaf 10 месяцев назад

Great episode with some really good information. Just went and bought Mary Jo’s book.

@akoskobrehel4646 10 месяцев назад

Step 1 be a millionaire.

@StubbsMillingCo. 10 месяцев назад

Nah just need 15%!!!

@taylorzitting7554 6 месяцев назад

Thanks!

@stanleyroberts2461 11 месяцев назад

I'm a non farmer but wished i heard of this in high school .

@20truck 3 месяца назад

I can tell you one thing right now I run a large commercial business You never borrow money to avoid paying taxes The amount of tax you have to pay versus the amount of interest you have to pay is far greater on the bank side. You borrow a you borrow $100,000 in your paying 3% interest a year then you're paying$3,000 a year but I'll assure you that's not going to save you $3,000 on your taxes so why would you want to pay more money than you're going to get in deductions That's just stupid. Now I'm not saying don't go to the bank and borrow money because trust me I don't use my money for nothing I use the bank's money to do my capital improvements but I make sure that those capital improvements make me More money than what I'm going to pay back to the bank. That's how rich people get rich You never hear rich people going out and borrowing money to save taxes whoever told you that is lying to you. But maybe that's why you're being told that remember the rich get richer and the poor get poor for a reason.

@albertbuikema4451 11 месяцев назад

Wealthy people don't talk about their bank account... but they talk about what works and doesn't.... its always trying to learn something.... anything... even if its complete screw ups they want to hear about it and figure out why.

@coryferguson 9 месяцев назад

😅 i love her Last person to farm my ranch was my great grandpa who died in 86 i wasnt born tell 99. My grandma didnt care to farm. My parents are city ppl. Grew up in the city. I literally only pay for hay, water, land, equipment is paid off but maintenance is its cost. My heifers. Only cost me 560 a head by the time they calve. Sucks because they can bring way more at market. Im to the point im not selling old cows. Market is too good. When it drops. Well shit. I have to sell them. Keep the young. Dead wont bring money. If i think they wont raise a calf. I do sell them. I dont keep un breed cattle. All this is done my ocd way because i had to sneak into football games. I didnt have 3 dollars to get in i was that broke. If im playing "the rich man game" I have to pinch every dollar. I have to watch every dollar. I literally am doing math 24/7 I only do loans if its needed to grow my operation. If not i sit on the bank account basically. Then bitch if i need a 65$ bag of milk replacer that only weighs 25 pounds and will last 4 days for 1 calf. (Rough example. It cost more then that) oh or 400$ in hydraulic fluid just to have a 9$ a foot hydraulic hose break thats 25ft long and the others might pop so you replace all 6 houses 😅 thats an accurate example 😅 true story too

@20truck 3 месяца назад

My yard's about 2 acres I've had people stop at my house and ask if I pull a string down my yard to make those straight rows, I tell him it's just a treat secret you'll just have to figure it out. I mow with a John Deere 2032R tractor 62D mowing deck and I keep those blades sharp enough to shave with and when I go down and turn around and come back it looks like you painted green grass One direction and painted that the other so it's a dark line a light line a dark line and a light line. From GPS it looks beautiful if they'll take the picture in the spring when the grass is good and green..

@cah_sawmill 9 месяцев назад

Hi guys... support always

@jesseeburcham4135 Месяц назад

I am 75 years old and this is way over my head.

@chababannour 10 месяцев назад

Very Nice vidéo ⚘️ have a Nice Day

@coryferguson 9 месяцев назад

Inflation 😅 my favorite word. I can remember diesel being 2.84 a gallon and gas was 2.05 a gallon. I'm just 8 years old at the time. Ppl said gas is to high. One of the gas station in town is 5$ a gallon while across town its 3.84 a gallon. When I graduated high school. I started ranching. Buying cow's and working other people cow's. Then covid bs had happen and inflation had happen once again. Only I'm 21. Then everything fell a part. My plan I thought of for years. Throw it out the window. Inflation has hit. That cost plan won't work. Now I'm checking cattle thinking about what's going to happen in another 25 years when I'm my dad's age or when I'm 76 years old. I don't see my self retiring. I don't want to retire. I just want my ranch to survive Only way that's going to happen if I quite ranching for other ppl and go into the oil field. I shouldn't have to quite doing what I love but to keep what I love. I'm facing that choice.

@Xelenteontae_ 8 месяцев назад

What are you doing now Sir?

@ctdieselnut Год назад

If you get life insurance (52 y.o./100k a yr premium for a 1.2m policy) to borrow against, what is the interest rate the insurance company takes (off the top, or as she says, "payouts are prorated")? That is kind of make or break, and may be the reason why this isn't more well know or utilized. Besides the ridiculous premium, not a ton of people are looking for a huge loan and a high payout from their life insurance that late in life im guessing.

@ctdieselnut 9 месяцев назад

I just starting watching towards the end again now (2 mos later). At one point she says something to the effect of; why pay 4.5-4.7% to a bank when borrowing against a life policy is 2.5%. So, if thats true, i guess that kind of answers my question, but i think there's strings attached that add complexity. Im still not positive here. Anyone here know?

@waynejones5239 9 месяцев назад

@@ctdieselnutshe said that she was able to get a loan at the bank at 2,5 percent and the insurance rate was 4 to 5 percent What she also said that as rates have went up she has used insurance to fall back on

@waynejones5239 9 месяцев назад

@ctdieselnut 9 месяцев назад

@@waynejones5239 thx for the reply, but one of us is wrong about the numbers. I said bank 4.5-4.7, ins. 2.5%, you said the same but opposite. One of us is wrong here, and i cant rewatch the whole thing to find that moment again so i could say who is. Since she was sort of pitching the life ins. idea, idk why she would bring up the rate being 2x what the bank is (if thats the case), kind of defeats the point. Idk, maybe ill rewatch this at some point.

@brentbellamy5861 8 месяцев назад

Even still I think you are only allowed to borrow against the cash value. So what you pay in+ growth. So if your goal is to grow the farm, I don’t see how this is helpful.

@COCarDude 10 месяцев назад

24:00 I agree 100%. As soon as both of my grandpas lost their ability to work, (or pursue their passions) they passed away within a couple of weeks.

@mamir0saucedo237 Год назад

Great video thanks for the advice 😅

@mathewrobbins5410 Год назад

Have a great day guys!

@FourkidsFarms 9 месяцев назад

How does giving a HL insurance 100 k a year so I can borrow 75 k a year back make sense After 40 years I pay 4 million for a death benefit of 1.2 million, Better be some very good dividends. Sound better to buy term and invest the rest

@admiraltroll5255 4 месяца назад

It's a tax strategy

@kennass2919 7 месяцев назад

Retirement after a lifetime of 80 hr weeks is a death sentence. After two years of depression despite all level of involvements, I had to admit I failed retirement. Think twice.

@hokie9910 6 месяцев назад

It’s not so much about retiring as it is having the choice and freedom to do something different even if it pays a lot less. Financial Independence is the key here.

@keithblythe1876 11 месяцев назад

This podcast is exactly what I’ve been searching for her ideas opened my mind to so many opportunities on my own family farm. Thank you!

@coryferguson 9 месяцев назад

Yeah my operation is strictly a purebred charolai operation. I get their birth weight, wean weight, year weight, turn in the parents info then I get a paper telling DNA data. At the beginning of the day. My first thought is. "How much will I spend today and how much will I had made at the end of the day. 😅 we know the answer. At the end of the day. 0 was made endless it's sell day. Everyday I sit down in my office and go to pen and paper. I'm constantly running numbers through my head. I'm not rich. I'm only 24 years old. My parents ask me all the time "how are you paying for this" I shrug my shoulders and keep trucking. It's weird I don't have a dollar to go on a date but I have a dollar that I don't have for ranching. I'm not in it for the money. In my opinion there isn't actually any money endless the oil field drills on your land and you have the minerals. It's scary running a ranch on your own and your parents didn't farm or grandparents. Last one in your family to farm died in 1986 and your not born tell 1999. It's scary. I love it tho.

@barncasino689 11 месяцев назад

Farming is easy , if you have the place give to ya. Death and inheritance is the key to success.

@hokie9910 6 месяцев назад

Inheriting land and money absolutely helps, as long as you have the brains to use it wisely.

@coryferguson 9 месяцев назад

Interest is about the only way i play. I was 21 years old and i did this just weeks before covid happen. 😅 Im talking to kelly chain and he looked at me and said cory. You can buy land right now and not need a dollar in reality. I looked at him. We got to talking next day i was calling the government for a 2% interest rate loan for buying your first land. 😅😅 Now i think 9 months later interest rates had gone up on everything. Im not sure when but i know it had happened. 😅 😢

@Dusty_Dirty 11 месяцев назад

This lady is wild

@richardneal9328 8 месяцев назад

As a retires farmer from Illinois. I like her approach to having some ground not in crops. That extra little yield makes no sense as the quality of life we call these new farmers “ground hogs”. Maybe even a tree line for wildlife. The money obsession is almost a disease. Love her approach. A new approach to an old idea.

@SJA-ox3hs 11 месяцев назад

The Whole Topic Is BACKWARDS, If You Have No Debt You Can Live Fine Off Very Little Resources. Everything is about putting your money in someone else's hands, so they can use it and make money, off your money.

@JohnSmith-fs4dx 9 месяцев назад

Helpful concepts in this video, but the finance math should be checked. A $30M retirement portfolio IN CASH could pay $100K/year for 300 years. At a net investment return over inflation of 3%, a $1.2M retirement portfolio can pay out $100K/year for 15 years. That's $3.5M in 2050 dollars (4% inflation).

@brunodobia9223 9 месяцев назад

Stay out of debt work hard and save and live within your means

@spdcrzy 9 месяцев назад

Was this based on the same concept as Primerica's life insurance methodology?

@hokie9910 6 месяцев назад

God bless A L Williams and Primerica for educating the middle class years ago on term vs. whole life. Thank you.

@alld47hidrohnilougue31 Месяц назад

I don’t get it. Do I pay the premium and have access to say $500k or do I have to put in $500k and then borrow it back?

@coryferguson 9 месяцев назад

Winter I feed cow's. Summer. I harvest wheat. I mow 14 yards and weedeat 17 yards. I hate mowing. It's my side hustle tho. 30 dollars per house. Once a week. I try to mow once every 2 weeks but some city slickers like a ocd yard.

@slickdoglong3669 8 месяцев назад

2 million hell i could live forever with that much cash especially with these interest rates getting bigger

@coryferguson 9 месяцев назад

My grandpa worked at the grain bins here in Oklahoma for 37 years. We finally had to break it to him. He's becoming a hazard. So he retired. 2 months later his body temperature was 84 degrees.....

@coryferguson 9 месяцев назад

I lease my family farm grass pasture. 1,900$ a year for 60 acres. I dont lease the 100 acre wheat field but brandon the guy leasing that field lets my cows go on it for free after harvest.

@donharper7759 Год назад

Yes moving the height of the mower is grounds for divorce paper!🤬

@jordanadams8752 Год назад

Can this be done in Canada?

@markthegunplumber8376 9 месяцев назад

Rich people stay rich by living poor and Poor people stay poor by living rich. Which goes right along with the 3-years and the money statement. A high percentage of people who win the loto go bust in the first year after winning because they have no concept of money management.

@coryferguson 9 месяцев назад

When your dad laughed 😅😅😅 "we're the ones who raised them"

@803mastiff9 Год назад

We are all farm animals in a global feed lot. A few hop the fence and make a run for it. We know what they do with the runners if they catch them.

@brandonnguyen8307 Год назад

The people you guys are bringing on get further and further from the beginning.

@CarlNielsen-iz8zu 11 месяцев назад

In my opinion, cash is king.

@kalebesseskew5525 11 месяцев назад

Good opinion.. she's nuts

@mikes9759 8 месяцев назад

Cash?

@kalebesseskew5525 8 месяцев назад

@mikes9759 yes cash. Money. Tender . Green backs. Dollars

@seththomas9105 6 месяцев назад

@@kalebesseskew5525 Gold, silver. In US Mint coinage. High intrest savings, or money market.

@j.r.490 8 месяцев назад

Cash Flow is King.

@brentbellamy5861 Год назад

Did y’all get paid to host this lady? She is one hell of a sales woman. Makes me want to buy HL insurance even though I know it’s a ripoff.

@zachadkins6161 Год назад

@brentbellamy5861 There’s literally a whole group of us full of business owners, real estate investors, entrepreneurs, and average Joe’s that practice this concept and swap information back-and-forth. You believe it’s a rip off because investment firms make you think that. Investment firms and life insurance companies play in the same sandbox. compete for the same mark shares.

@brentbellamy5861 Год назад

I’m open to learning. I get how this might be a good way to transfer inter generational wealth. But as far growing my farm during my life. I get how you can borrow against the cash value in the policy. But that the money you put in plus growth. You could save/invest that money outside of a WL policy and get similar growth. Then when I buy property with that money I don’t have to pay it back. I don’t get why I would put money into a WL policy to borrow against it.

@brentbellamy5861 Год назад

@@zachadkins6161also what is this group that you are talking about and how do I find it?

@hokie9910 6 месяцев назад

@@brentbellamy5861exactly. For those who understand insurance and investing it’s best to keep these 2 things completely separate.

@gregeckhardt5338 4 месяца назад

I hope they're all just trying to scam us because if not, they're dumber than a box of rocks.

@user-fk8qz9wj4l Месяц назад

❤❤❤

@ericpercy9956 10 месяцев назад

Back in the day we were not aloud to mow when clover was in bloom gotta love a honey bee

@440gohorse 7 месяцев назад

How to build a farm and make a profit??? Inherit the farm and machinery and money to put out the first crop.

@Userxyz-z2d 9 месяцев назад

Wld be easy to live off $2M. Theres ways of earning a lot with it but you'll hav to research like i did. I retired at 57 with $700k and Im doing Very well. That was 8 yrs ago & Im worth more now than 8 yrs ago. Smart people figure it out.

@Xelenteontae_ 8 месяцев назад

Mentor me 😢

@seththomas9105 6 месяцев назад

I'm 54 and if I had 2 Million after taxes right now I could retire. I would actually work 3 more years to get my full pension and max my 401k and then retire and work part time and cash jobs until I could start pulling retirement.

@hokie9910 6 месяцев назад

@@seththomas9105You can start pulling from your 401k at 55 penalty free as long as you are retired.

@coryferguson 9 месяцев назад

😂 this lady quacks me up 😅

@Sam-pw8zh Год назад

Im confused am getting a interest payment on my money? Help me understand

@kalebesseskew5525 11 месяцев назад

She's nuts

@user-fc4lh6zq2i 11 месяцев назад

This podcast is clickbait...Unless you have a bunch of cash, what she is saying to do isn't a thing with Whole life Insurance.

@michelejackson4142 8 месяцев назад

Such great information, thank you! Excited for more

@jwiereng 10 месяцев назад

18:47 52 yo with 2M cash? at 5% APR = $100,000 per year. Seems good to me at first, but then inflation comes around. And $100K per year is not much 20 years from now

@seththomas9105 6 месяцев назад

Well, I'm planning on living on half that. I know I will always work as long as I can. It won't be full time but 20-30 hrs a week. Don't expect to be buying new cars and vacations to the Casba and you don't need lots of money.

@jeramypeoples8828 3 месяца назад

Then I love this whole podcast, but it sucks that our interest rates are so high now you cannot do that with the bank maybe the whole life insurance is the way to go

@cmfgates 9 месяцев назад

We never really retire. I've been doing the math for a couple years. What I've figured out for my wife and I we only need $500k cash, to set ourselves up for the rest of our lives. With that amount we could do small scale mostly sustenance farming that would support us. My depression era grandparents taught me well. There are alot of little details that cant go into a comment section. When we are too old our kids agreed to not put us in the "home". The only issue like with everyone is coming up with that $500k. 😂😂😂

@johncalebsteele Месяц назад

Take it back from the banks and co-op meat packing/market/distribution everywhere

@user-rz4sh9cx3q 9 месяцев назад

Hii❤

@mickeymouse6487 10 месяцев назад

Any insurance company wants to make there 30 percent

@jgjohnson379x 11 месяцев назад

Is this available in canada and whos the people to talk to here?

@waynejones5239 9 месяцев назад

Sorry I don't have either one of those apps

@bryanwest1611 6 месяцев назад

BUT, the term life is like 10 percent or less of the cost of whole life. Put the other 90 percent in a money market or other investment.

@Bestruction 9 месяцев назад

Your husband is pretending to listen haha 💯

@JamericaLife 8 месяцев назад

Good advice

@toh192 6 месяцев назад

Whole life is such a scam it isn’t a savings account, she’s just a saleswoman.

@adamkays7639 Месяц назад

Money is not the root of all evil. The love of money is.

@Jayce-fu4io Месяц назад

Where they cant stop you , run the 2/3 quarter, hesr God, here God, mud is low tire hahah ahhhh

@coryferguson 9 месяцев назад

I'm not in your neck of the woods or even raise the same animals. I'm a rancher. I feed cow's lots of cows. I work on a 55,000 acre ranch with 2,000 head of cattle. Then I have my 30 head I take care of before or after work. When I'm dead I better own 200 head.

@Xelenteontae_ 8 месяцев назад

Woah, pls teach me

@coryferguson 9 месяцев назад

😅 ma'am that 1 extra row of corn feeds us. Honestly everywhere you go. You will see that 1 extra row. Doesn't even have to be with corn. It could be wheat You can be here in Oklahoma and you will see wheat and the same thing. It sounds like ppl need to stop building houses in fields 😅

@88ranchok Год назад

Tork dad I wish I had ur lucky

@ernestestrada2461 Месяц назад

Government regulations and excessive taxations are in the way of wealth creation and why so many multinationals dominate.

@harveypost1841 9 месяцев назад

Hay loft time

@Cho-denki-rabbit 7 месяцев назад

Dont get this twisted scheme the policy cost twice as much for half the coverage. The cash in the bundled whole life policy product would perform better if it was done separately. Not to mention the fees to get it out and maintain the loan. The 1st 3 to 5 years there is no growth because they are paid to the cash value agent. At most the bad investment in the policy only grows 2 to 3 percent 😂😂

@hokie9910 6 месяцев назад

Exactly. It’s best to keep insurance and investments separated. If you have that kind of cash flow invest it in a brokerage account and now you really are your own bank.

@Cho-denki-rabbit 6 месяцев назад

@@hokie9910 yep, they just re-package whole life and front load (over pay) up front so it looks like its doing something.. something to hide the losses and inefficiency of the poor investment.

@billycarter3399 9 месяцев назад

What about the guys retiring, who's taking their spots if there's no family interested

@Xelenteontae_ 8 месяцев назад

I think they just sell it

@farmjet2711 Месяц назад

What would Dave Ramsey say about this 🤔

@Jayce-fu4io Месяц назад

Has iy ever been done from have nithunf but maybe one crop , farmer break, rent it aback in just pissed how the fuck

@tweek857 10 месяцев назад

Let me be clear. I want to work for myself. I want to retire from the rat race

@robertb4101 10 месяцев назад

Lol at this lady😂 so easily scammed by an insurance company

@mattmullenix 7 месяцев назад

Do NOT ever buy whole life insurance

@AsmaAkther-nn4my 10 месяцев назад

' opu

@afdhatulwahdaniyah2581 10 месяцев назад

😂

@realDesertRat 10 месяцев назад

49:28 - everything she's saying sounds like what every agent that sells whole life policy says. Why would you pay 15 plus times more for life insurance if your dependents are already financially stable? That's the whole point of the insurance. I'd rather pay a 20 year term and INVEST the rest. Please do your research after listening to this goober, folks.

@joepfeiler5911 5 месяцев назад

I heard this pitch 35 years ago. I bought a policy on my Dad so I could buy the farm when he died. Did not work. With the amount land went up over the 35 years, I can not buy the land with the death benefit I am going to collect this year. If I would have bought land along side of my fathers farm, I would be in the financial position to buy my Dad's land if I would have not paid all them premiums and just bought land. I no longer farm on account of that plan.

@sidneyt1512 5 месяцев назад

@@joepfeiler5911That stinks. I was researching this topic out more and now I’m disappointed that they even had this life insurance sales lady on their podcast and should remove the whole show. Crap like this doesn’t help farmers, it ruins them.

@coryferguson 9 месяцев назад

I ain't going to retire 😅 look at our government